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An appeals court has dismissed a challenge brought by a Snap Fitness franchisee to a ruling that found insurer Lloyd’s could rely on a conformity clause in its policy to deny business interruption coverage to the NSW gym for losses related to COVID-19.
A judge has ordered that the lead applicant in a class action against German cladding manufacturer 3A Composites give further details on how its allegedly combustible cladding caused losses for property owners.
A judge has given a “judicial harrumph” to Sydney developer FKP Commercial Developments and Irish insurer Zurich Insurance in a dispute over coverage for an apartment defects suit, saying it was not for the court to “trawl” through an insurance policy to work out its meaning.
Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
Law firm Sophie Grace has settled a lawsuit brought by collapsed forex broker Gallop International Group claiming its failure to ensure the company complied with its obligations as a holder of an Australian financial services licence led to $15.4 million in investor funds being loaned to the company's director in Hong Kong.
Irish insurer Zurich Insurance has lost its appeal seeking to shut down a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block.
Although the settlement sum has not been disclosed, court documents in the Opal Tower class action reveal the litigation funder backing the case will seek $13.2 million in commission when the parties appear before the court later this year.
Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.
Irish insurer Zurich Insurance has appealed a judge’s finding that a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block could go ahead, arguing the finding was the result of federal overreach.
The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.